▲ President Lee Jae-myung
President Lee Jae-myung announced that South Korea's current account surplus in the second quarter of this year surpassed the combined surpluses of Germany and Japan, stating, "A great wave of opportunity is rising in our economy as well."
President Lee shared an article on his social media today (October 25) reporting that South Korea's second-quarter current account surplus ranked second among 36 major countries, writing the remarks while quoting former U.S. President John F. Kennedy's phrase, "A rising tide lifts all boats."
He emphasized, "South Korea is now moving beyond being a country that follows advanced nations to becoming a leading nation that guides the flow of the global economy," adding, "We must seize this opportunity to enhance our industrial competitiveness and raise our potential growth rate."
He continued, "The important thing is to make this wave of growth a force that transforms the lives of all citizens," adding, "Economic vitality must lead to more investment and jobs, better income, and greater comfort in daily life."
President Lee also pledged, "The reason economic growth is needed is to improve the lives of our people," promising, "I will further solidify the foundation for growth so that South Korea's leap forward leads to a better tomorrow for each and every citizen."
According to International Monetary Fund (IMF) statistics recorded in the Bank of Korea's Economic Statistics System, South Korea's current account surplus in the second quarter of this year was tallied at $116.63 billion.
This figure is $13.74 billion higher than the combined surplus of Germany, which recorded $52.28 billion, and Japan, which recorded $50.62 billion.
This marks the first time that South Korea has surpassed the combined total of Germany and Japan since the first quarter of 1996, from which data comparing the current account surpluses of all three countries is available.
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